Despite being the man who led the charge of the Pre and webOS after a 9 year tenure at Apple, it still came as a bit of a surprise when Palm announced that Jon Rubinstein will be assuming the role as CEO starting tomorrow. After everything Palm has been through, now is when it makes a major change at the top? Taking over the position that has been held by Ed Colligan for the past sixteen years, Rubinstein will be entrusted with ensuring the company stays on the straight and narrow as it attempts to re-establi...

Palm announced today that the equity firm Elevation Partners has agreed to make a new investment in Palm that will total $100 million. Elevation Partners, who purchased 25% of Palm in September 2007, will purchase preferred stock that is convertible into Palm common stock at a price of $3.25 per share, a 31% increase over Palm’s closing stock price last week. Elevation Partners will also receive warrants to purchase seven million shares of common stock at the same price and may be required to sell $49 m...